Monday February 17, 2020

Tax havens are perfectly legal - yet morally murky

There’s nothing ‘wrong’ with the tax avoidance schemes revealed in the Paradise Papers. But the consequences to our exchequer are all too real

19th November, 2017
The Paradise Papers exposed a network of offshore companies, many of them in idyllic settings

The Paradise Papers have revealed, again, how easy it is for tax avoiders to exploit loopholes in the international financial system. The leaked documents exposed a network of offshore companies and tax havens which are used to shield identities, mask conflicts of interest and conceal massive wealth.

Shell companies may well have legitimate uses and there is nothing illegal in putting money into offshore accounts. No laws were broken. A moral wrong justified by a...

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